I have close to $200,000 in student loans. I have tried for the last 8 years to find a job that allows me to pay the $2,500 payment and have been unsuccessful. The loans have been in forebearance since getting out of school. I know that student loans are not usually dischargable in bankruptcy but there is no way I can ever pay this. The amount keeps growing as interest keeps getting added on. Is there any way that student loans can be discharged?
Student Loans and bankruptcy
1 Comments:
You are correct, student loans are not normally dischargeable in a bankruptcy. The only way a student loan can be discharged is by proving to the court that repayment of the student loan will create an undue hardship on the borrower and his/her family.
In your case, given the large amount you owe, I would suggest you find a bankruptcy attorney with experience in student loan discharge hearings in your area for further advice.
By Bankruptcy Expert, at 1:10 PM
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